v3.26.3
DEBT
 9 Months Ended
Sep. 27, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
A summary of total debt outstanding is as follows:
($ in thousands)September 27, 2026December 31, 2025
Long-term debt:
Term loan due 2029$114,063 $117,188 
Revolver due 2029166,000 75,000 
1.75% convertible notes due 2028
258,701 258,701 
4.75% senior notes due 2029
350,000 350,000 
6.375% senior notes due 2032
500,000 500,000 
Total debt1,388,764 1,300,889 
Less: convertible notes deferred financing costs, net(2,176)(2,915)
Less: term loan deferred financing costs, net(346)(430)
Less: senior notes deferred financing costs, net(7,428)(8,473)
Less: current maturities of long-term debt(6,250)(6,250)
Total long-term debt, less current maturities, net$1,372,564 $1,282,821 
As of September 27, 2026, the Company maintained a senior secured credit facility comprised of a $875 million revolving credit facility (the "Revolver due 2029") and a $125 million term loan (the "Term Loan due 2029") and together with the Revolver due 2029, (the "2024 Credit Facility").
The interest rate for incremental borrowings under the Revolver due 2029 as of September 27, 2026 was the Secured Overnight Financing Rate (“SOFR”) plus 1.75% (or 5.65%) for the SOFR-based option. The fee payable on committed but unused portions of the Revolver due 2029 was 0.225% as of September 27, 2026.
Total cash interest paid was $4.8 million and $38.1 million for the three and nine months ended September 27, 2026, respectively, and $4.0 million and $38.6 million for the three and nine months ended September 28, 2025, respectively.
Conditional Conversion Feature of the 1.75% Convertible Senior Notes due 2028
The 1.75% Convertible Senior Notes due 2028 (the “1.75% Convertible Notes”) have a conditional conversion feature related to the price of our common stock equaling or exceeding 130% of the conversion price during a specified in the prior calendar quarter. This condition was satisfied during the calendar quarter ended June 30, 2026 and, as a result, the 1.75% Convertible Notes were convertible, in whole or in part, at the option of the holders from July 1, 2026 to September 30, 2026.
This condition was not satisfied during the calendar quarter ended September 30, 2026 and, as a result, the notes are not convertible from October 1, 2026 to December 31, 2026. Whether the 1.75% Convertible Notes will be convertible in subsequent periods will depend on the satisfaction of this condition or another conversion condition in the future. There were no conversions of the 1.75% Convertible Notes during the nine months ended September 27, 2026.